Sanctions
On October 18, 2007, the Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury imposed financial sanctions against Tay Za, his wife Thidar Zaw, his eldest son Pyae Phyo Tay Za, and five of the companies controlled by Tay Za, including Htoo Trading Company and Air Bagan.[10] The sanctions were instituted in response to protests against the junta on the streets of many cities in Burma in September 2007.[11]
On 5 February 2008, those sanctions were expanded to include some of Tay Za's partners, including Aung Thet Mann, Thiha and U Kyaw Thein, as well as HGC itself. Also named in the new sanctions order were Khin Lay Thet, wife of General Thura Shwe Mann, Myint Myint Ko, wife of Construction Minister Mon Saw Tun, Tin Lin Myint, wife of Lieutenant General Ye Myint, the head of Military Affairs Security, and Myint Myint Soe, wife of Minister of Foreign Affairs Nyan Win.[12]
The sanctions were expanded pursuant to Executive Order 13448, which authorizes the United States Secretary of the Treasury to designate senior regime officials, human rights violators in Burma, persons engaged in public corruption in Burma, financial and material supporters of the Government of Burma, and spouses and dependent children of previously designated individuals. The designation freezes any assets the designees may have subject to U.S. jurisdiction, and prohibits all financial and commercial transactions by any U.S. person with the designated companies and individuals.[12] The business being related to the government of Myanmar, since 2008, it is also subject to European Union sanctions which include seizing corporate and personal assets.[13]
On 7 October 2016, the United States Department of the Treasury implemented termination of the Burma Sanctions Program[14] in accordance with the Executive Order issued on the same date by the U.S. President Barack Obama,[15] which effectively removed Tay Za, along with other Business Tycoons from OFAC's Specially Designated Nationals list, effectively removing HTOO Group of Companies and its subsidiaries off the previously imposed sanctions.
On 2 September 2021, the group and its chairman Tay Za were sanctioned by the UK for providing financial support and arms to Myanmar's military.[16]
